Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,383 shares of the financial services provider's stock after selling 5,000 shares during the quarter. Lee Danner & Bass Inc.'s holdings in Brookfield Asset Management were worth $3,313,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in BAM. ST Germain D J Co. Inc. bought a new position in Brookfield Asset Management in the 1st quarter worth about $26,000. Truvestments Capital LLC boosted its holdings in shares of Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 419 shares during the period. Rossby Financial LCC bought a new position in Brookfield Asset Management in the first quarter worth approximately $28,000. Mountain Hill Investment Partners Corp. purchased a new position in Brookfield Asset Management during the 4th quarter worth $32,000. Finally, NewEdge Advisors LLC raised its position in Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Up 2.8%

Shares of BAM stock traded up $1.58 during trading hours on Friday, reaching $57.12. 1,432,599 shares of the company's stock were exchanged, compared to its average volume of 1,586,617. Brookfield Asset Management Ltd. has a 1 year low of $37.80 and a 1 year high of $62.61. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. The stock has a market cap of $93.52 billion, a PE ratio of 40.51, a PEG ratio of 2.13 and a beta of 1.43. The stock's fifty day moving average price is $56.00 and its two-hundred day moving average price is $54.12.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. Research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Friday, May 30th. Brookfield Asset Management's payout ratio is 124.11%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Scotiabank raised their price target on Brookfield Asset Management from $58.00 to $59.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Piper Sandler started coverage on shares of Brookfield Asset Management in a research report on Monday, June 30th. They issued a "neutral" rating and a $60.00 price target for the company. Morgan Stanley lifted their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a research note on Thursday, April 10th. Finally, Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.50.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.